The present invention relates to computer-based accounting methods.
Computer-based financial accounting systems have greatly automated the process of documenting and analyzing financial transactions. A user interface of a computer-based financial accounting system is sometimes referred to as a check register screen. Individual financial transactions are arranged in rows, and various columns indicate particular aspects of each financial transaction. For example the transaction dates can be arranged in a column, while corresponding transaction reference numbers and transaction types can be arranged in columns. The reference number is a unique identifier for the transaction. The transaction type may reflect the nature of the transaction, for example, a bill payment (BILLPMT), a payroll check (PAY CHK), and other transaction types. An account column can provide information about a particular vendor, payee, customer etc. that may be a party to the transaction. For example, a particular vendor can be indicated for particular financial transaction. A transaction category may also be indicated under a column for a financial transaction, for example, a credit card transaction. This enables tracking of expenses according to the various transaction categories. A payment column can indicate the amount of the transaction, and a balance column can indicate a running balance in the account.
In many cases, it is useful to execute the same financial transactions for a large number of parties at the same time. For example, during a membership drive for an organization such as a club, it is common for hundreds of persons to join the organization, each paying the same fee for the same type of transaction. Conventionally, a financial bookkeeper might need to separately enter each such transaction. In addition to entering the party, type and amount of each transaction, the bookkeeper may also need to repetitively enter taxable status and other information.